The Role of Gender in Managing Finances among Newly Married Couples in Klang Valley, Malaysia
Abstract
This study explores the couple's role in managing finances and marital satisfaction from the perspective of newly married couples. By delving into individual demographic and behavioral segments, we reveal how couples manage and plan finances to achieve financial well-being and marital satisfaction, further identifying the role of gender in household financial management. Through a phenomenological method, we conducted semi-structured interviews with seven middle-income newly married couples residing in Klang Valley. Interviews with informants took 6 months between February 2022 and July 2022. The duration of the interview is between sixty and ninety minutes. The interpretation of qualitative data was analyzed thematically using N-Vivo 13 software. The results of the study shed light on the couple's financial management practices to achieve financial well-being and marital satisfaction. The husband is the main pillar in the household's financial affairs. This study offers value in the enrichment of data that reveals couples' understanding of managing finances and plans for their future. By focusing on newly married Malay couples, we gained a deeper insight into simple strategies implemented by household financial managers, division of financial responsibilities, and course of action. Findings that reveal the understanding and behavior of middle-income newlyweds in the Klang Valley towards financial well-being can be used by policymakers, governments, and non-governmental organizations to formulate financial health policies, programs, and campaigns to educate the public about early planning towards financial well-being and enjoying marital satisfaction.
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